Quote from: Lida93 on Today at 05:55:13 PM

I have this colleague of mine at workplace who is a bitcoin enthusiast just like me. Often times at work when we're less occupied with our job we kind of spend such moment's discussing about bitcoin generally. Two days ago he was telling me about his plans to start buying BTC with 20% of his salary every month for the rest of the years he has to retirement that's when he will then take it all. And based on the company total years of service he has 16 years left to his retirement.

With the way he was talking to me about it he appears to know exactly what he's about to do and how its going to end for him. But for me his idea has left some apprehension and questioning in my head due to the length of years (good 16 years) he is going to keep up with. From my angle the years are too much as no one can certainly say for sure about what the future of cryptocurrency and bitcoin holds despite how positive it could be looking today.

In my opinion I wanted to talk to him with a logical conclusion why he should reduce the length of years, not to do it at a stretch of straight 16years he has in mind without applying risk management technique, maybe by splitting those 16years into four interjecting years. As in he should in every 4 years be taking 50% of whatever total amount plus profit till it gets to the 16years he planned. At least in worst case scenario this method could save him something reliable to fall back onto.

How do you guys think about this idea of mine for my colleague? Can it really be helpful to him in the long run or it may just obstruct his original plan killing the whole idea? Please all opinions are entertained but whatever your opinion might be, also try to put the length of years involved into consideration.(16 years)

16 years of saving 20% of his salary into BTC may be a wrong and risky move because of the uncertainty. I feel he should not dive into this if the saving is really towards retirement.
Money saved for retirement purposes should be kept as safe as possible. I want to believe that the organization he currently works with has a retirement saving account for him already because this is done for all employees in my home country. In my country, there's a retirement saving plan called AVC(additional voluntary contribution), which is an additional voluntary inflow save towards retirement, here the employee can instruct the employer to deduct an X amount of money from the salary and add to the mandatory contributions. I will suggest that your friend take this type of approach because Pension contributions are largely invested in secured investments with minimal risk instead of investing his hard earn money in BTC for 16 years.

I will also suggest that he can do like 5% in BTC for the duration of 16 years(Take the interest as often as possible) In my own opinion,20% is too high. However, if the retirement plan stated above is not available in his workplace then he should invest 15% out of the 20% in a more secure investment because he's saving towards retirement while 5% goes into BTC.